Clean Energy Fuels Corp. has completed a new renewable natural gas (RNG) production facility at Drumgoon Dairy in Lake Norden, S.D, according to a news release.
The 6,500-cow dairy farm is expected to supply 1.66 million gallons of negative carbon-intensity RNG annually to the transportation market when at full capacity.
Construction of the $38m RNG digester project was completed in early-December 2023 and injection into the interstate natural gas pipeline system of the RNG began within weeks. The RNG produced at Drumgoon will be virtually stored until all pathways for federal and state environmental credits are approved, and a carbon-intensity score is assigned to the RNG, expected in the first half of 2024.
The company recently entered into a six-year $300m senior secured term loan with Stonepeak, an alternative investment firm specializing in infrastructure and real assets.
The credit agreement also provides for a two-year delayed draw term loan commitment of an additional $100m.
